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Bank of Maharashtra Farmer Four-Wheeler Loan

Up to ₹20 lakh for a new car, jeep, pickup, , , rural transport vehicle or electric four-wheeler used to supervise farms or transport produce, inputs and labour, with a current 9.25% p.a. floating rate and five-to-seven-year repayment.

Interest rateCurrent effective 9.25% p.a.Maximum amount₹20 lakh.TenureFive to seven years; monthly, quarterly, half-yearly or yearly instalments aligned with harvest or activity cash flow.
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Quick eligibility check

Bank of Maharashtra Farmer Four-Wheeler Loan

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: ₹3 lakh net annual income?

Published source: Minimum income

2Do you meet this requirement: Landowners also need at least three perennial-irrigated or six seasonal-irrigated acres?

Published source: Minimum income

3Do you meet this requirement: eligible operators without land must provide two financial years of ITRs?

Published source: Minimum income

4Does your annual income meet this requirement: Applicant must be at least 18 and no older than 70 at maturity, have a valid driving licence or licensed driver, and show at least ₹3 lakh net annual income?

5Do you meet this requirement: Landowners also need at least three acres of perennially irrigated or six acres of seasonally irrigated land?

6Document checkDo you have this required document or proof: Loan application Form 138 and Enclosure B2?

Published source: Minimum income

7Document checkDo you have this required document or proof: 7/12, 8A and 6D land extracts?

Published source: Minimum income

8Document checkDo you have this required document or proof: Gazetted revenue-authority income certificate for landowning applicants?

Published source: Minimum income

9Document checkDo you have this required document or proof: Last two financial years' ITRs for applicants without land engaged in eligible activities?

Published source: Minimum income
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeAgriculture term loan for a new four-wheeler, including an electric vehicle, used for farm supervision, management or transport.View source
The official table classifies the facility and lists all eligible vehicle types and uses.
Source
Farmer Four-Wheeler Loan
Page / section
Facility; Purpose
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateCurrent effective 9.25% p.a.View source
The product publishes one-year plus 0.25%; the current one-year is 9.00%.
Source
Farmer Four-Wheeler Loan and current notice
Page / section
Rate of Interest; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkOne-year MCLR 9.00% + 0.25%.View source
The visually checked current notice gives one-year of 9.00%.
Source
with effect from 25.07.2026
Page / section
page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published.View source
The reviewed official page and current schedules do not publish a fee-inclusive .
Source
Farmer Four-Wheeler Loan
Page / section
Complete product table and linked current schedules
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum income₹3 lakh net annual income. Landowners also need at least three perennial-irrigated or six seasonal-irrigated acres; eligible operators without land must provide two financial years of ITRs.View source
The page publishes the same numeric income floor for both applicant routes and separate land/ evidence.
Source
Farmer Four-Wheeler Loan
Page / section
Income & Land holding criteria
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum amount₹20 lakh.View source
The scheme table states the maximum.
Source
Farmer Four-Wheeler Loan
Page / section
Loan Amount
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureFive to seven years; monthly, quarterly, half-yearly or yearly instalments aligned with harvest or activity cash flow.View source
The page states both the range and repayment frequencies.
Source
Farmer Four-Wheeler Loan
Page / section
Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeAgriculture term-loan tariff: nil up to ₹5 lakh; 1% above ₹5 lakh to ₹25 crore.View source
The current agriculture term-loan tariff applies to this ATL facility.
Source
Service Charges - Commercial, and Agriculture Credit
Page / section
Processing Fees - Term Loan: including Agriculture Credit
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment charge2% of the prepaid amount when prepayment exceeds 25% of the sanctioned limit; nil when principal outstanding is below 25% of sanctioned limit; not applicable to Micro and Small Enterprises.View source
The current all-credit term-loan rule gives the threshold and exemption.
Source
Service Charges - All Credit
Page / section
Prepayment Charges - Term Loan
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Maximum ₹20 lakh
  • New four-wheelers including electric vehicles
  • Current one-year plus 0.25%, or 9.25% p.a.
  • Five to seven years
  • Repayment frequency may follow harvest or activity cash flow

Eligibility

  • Applicant must be at least 18 and no older than 70 at maturity, have a valid driving licence or licensed driver, and show at least ₹3 lakh net annual income. Landowners also need at least three acres of perennially irrigated or six acres of seasonally irrigated land; qualifying allied/agri-infrastructure operators without land must provide two financial years of .

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Loan application Form 138 and Enclosure B2
  • 7/12, 8A and 6D land extracts
  • Gazetted revenue-authority income certificate for landowning applicants
  • Last two financial years' for applicants without land engaged in eligible activities
  • Co-applicant salary slips, , Form 16, balance sheet and profit-and-loss statement where applicable
  • No-dues certificates including PACS
  • Thirty-year panel-advocate title search where land is mortgaged
  • Authorised-dealer quotation
  • Invoice/receipt, RC with bank charge and insurance with bank clause
  • Guarantee Form F-138 and guarantor land/income records where applicable

Related official documents

Scheme for financing farmers for Purchase of Vehicles (Four Wheelers)official-product-page · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Commercial, MSME and Agriculture Creditofficial-pdf · current · accessed 31 Aug 2026
↗
Marginal Cost of Funds Based Lending Rates with effect from 25.07.2026official-pdf · current · accessed 31 Aug 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Facility · Published detailAgricultural Term Loan

This value is copied from Farmer Four-Wheeler Loan - complete published scheme table. Check the table notes before relying on it.

Source: Farmer Four-Wheeler Loan · Complete scheme table Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 15 rows · 2 columnsFarmer Four-Wheeler Loan - complete published scheme tableView tableHide table

Scroll sideways to view every column

Farmer Four-Wheeler Loan - complete published scheme table
ParticularPublished detail
FacilityAgricultural Term Loan
PurposeBrand-new car, jeep, pickup, , , rural transport vehicle or EV for farm supervision/management and transport of produce, inputs and labour
EligibilityAgriculturists, allied-activity operators and agriculture-input producers/distributors; valid driving licence or licensed driver
Age18+; maximum age 70 at loan maturity
Income and land - landowner₹3 lakh net annual income plus three perennial-irrigated or six seasonal-irrigated acres; gazetted revenue-authority income certificate compulsory
Income - eligible operator without land₹3 lakh net annual income plus last two financial years'
Co-applicant incomeSpouse/father/mother/son/daughter-in-law may join; applicant/co-applicant deduction cap maintained at 70:30
AmountMaximum ₹20 lakh
Margin15% of ex-showroom price plus RTO and insurance
RateOne-year +0.25%; current 9.25%
SecurityUp to ₹2 lakh: vehicle hypothecation; above ₹2 lakh: vehicle hypothecation plus land mortgage or third-party guarantee
RepaymentFive to seven years; monthly/quarterly/half-yearly/yearly, aligned with harvest/activity cash flow
InsuranceAsset insured for full value
Conditions; /-defaulter check; originals before disbursement; to dealer; invoice/receipt/RC/insurance with bank charge/clause
DocumentsForm 138/B2; land records; applicable co-applicant income evidence; no-dues including PACS; 30-year search where mortgaged; dealer quotation; guarantee and guarantor records
Farmer Four-Wheeler Loan · Complete scheme table · accessed 31 Aug 2026Open official source ↗
Table 2 · 5 rows · 3 columnsBank of Maharashtra MCLR effective 25 July 2026View tableHide table

Scroll sideways to view every column

Bank of Maharashtra MCLR effective 25 July 2026
TenorResidual maturity p.a.
Overnight1 day7.30%
One monthMore than 1 day to 1 month8.30%
Three monthsMore than 1 month to 3 months8.55%
Six monthsMore than 3 months to 6 months8.90%
One yearMore than 6 months9.00%
with effect from 25.07.2026 · page 1 · accessed 31 Aug 2026Open official source ↗
Table 3 · 7 rows · 3 columnsCurrent agriculture term-loan processing and prepayment chargesView tableHide table

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Current agriculture term-loan processing and prepayment charges
ChargeLimit / conditionPublished charge
Processing feeUp to ₹5 lakhNil
Processing feeAbove ₹5 lakh to ₹25 crore1%
Processing feeAbove ₹25 crore to ₹100 crore0.80%
Processing feeAbove ₹100 crore to ₹500 crore0.70%
Term-loan prepaymentPrepayment exceeds 25% of sanctioned limit2% of prepaid amount
Term-loan prepaymentPrincipal outstanding below 25% of sanctioned limitNil
Term-loan prepaymentMicro and Small EnterpriseNot applicable
Service Charges - Commercial, and Agriculture Credit · Processing Fees - Term Loan; All Credit - Prepayment Charges · accessed 31 Aug 2026Open official source ↗

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